Golar LNG Limited Announces Proposed Offering of $500 Million of Convertible Senior Notes due 2030
Golar LNG Limited (NASDAQ: GLNG) has announced plans to offer $500 million in Convertible Senior Notes due 2030 through a private placement to qualified institutional buyers. The company will also grant initial purchasers a 30-day option for an additional $75 million in notes.
The notes will be senior, unsecured obligations paying semiannual interest, maturing December 15, 2030, and will be convertible into common shares, cash, or a combination thereof. The proceeds will be used to repurchase up to 2.5 million common shares and for general corporate purposes, including potential investments in a fourth FLNG unit, MKII FLNG conversion costs, and FLNG Hilli redeployment costs.
Golar LNG Limited (NASDAQ: GLNG) ha annunciato l'intenzione di offrire 500 milioni di dollari in Obbligazioni Convertibili Senior con scadenza 2030 tramite un collocamento privato riservato a investitori istituzionali qualificati. La società concederà inoltre agli acquirenti iniziali un'opzione di 30 giorni per ulteriori 75 milioni di dollari in obbligazioni.
Le obbligazioni saranno obbligazioni senior non garantite con pagamento di interessi semestrali, con scadenza il 15 dicembre 2030, e saranno convertibili in azioni ordinarie, denaro contante o una combinazione di entrambi. I proventi saranno utilizzati per riacquistare fino a 2,5 milioni di azioni ordinarie e per scopi aziendali generali, inclusi potenziali investimenti in una quarta unità FLNG, costi di conversione MKII FLNG e costi di riallocazione del FLNG Hilli.
Golar LNG Limited (NASDAQ: GLNG) ha anunciado planes para ofrecer 500 millones de dólares en Notas Convertibles Senior con vencimiento en 2030 a través de una colocación privada dirigida a compradores institucionales calificados. La compañía también otorgará a los compradores iniciales una opción de 30 días para adquirir 75 millones de dólares adicionales en notas.
Las notas serán obligaciones senior no garantizadas que pagarán intereses semestrales, con vencimiento el 15 de diciembre de 2030, y serán convertibles en acciones comunes, efectivo o una combinación de ambos. Los ingresos se utilizarán para recomprar hasta 2.5 millones de acciones comunes y para fines corporativos generales, incluyendo posibles inversiones en una cuarta unidad FLNG, costos de conversión MKII FLNG y costos de reubicación del FLNG Hilli.
골라 LNG 리미티드 (NASDAQ: GLNG)는 2030년 만기 전환사채 5억 달러를 적격 기관 투자자를 대상으로 한 사모를 통해 발행할 계획을 발표했습니다. 회사는 초기 구매자에게 추가로 7,500만 달러 규모의 사채를 30일간 인수할 수 있는 옵션도 부여할 예정입니다.
이 사채는 선순위 무담보 채무로 반기별 이자를 지급하며, 2030년 12월 15일에 만기가 도래합니다. 또한 보통주, 현금 또는 이들의 조합으로 전환할 수 있습니다. 조달된 자금은 최대 250만 주의 보통주를 재매입하고, 4번째 FLNG 유닛 투자, MKII FLNG 전환 비용, FLNG 힐리 재배치 비용 등 일반 기업 목적에 사용될 예정입니다.
Golar LNG Limited (NASDAQ: GLNG) a annoncé son intention d'offrir 500 millions de dollars en obligations convertibles senior arrivant à échéance en 2030 par le biais d'un placement privé destiné à des acheteurs institutionnels qualifiés. La société accordera également aux premiers acheteurs une option de 30 jours pour un montant supplémentaire de 75 millions de dollars en obligations.
Les obligations seront des dettes senior non garanties, portant intérêt semestriel, arrivant à échéance le 15 décembre 2030, et seront convertibles en actions ordinaires, en espèces, ou une combinaison des deux. Les fonds récoltés seront utilisés pour rachat de jusqu'à 2,5 millions d'actions ordinaires et à des fins générales d'entreprise, y compris des investissements potentiels dans une quatrième unité FLNG, les coûts de conversion MKII FLNG, et les coûts de redéploiement du FLNG Hilli.
Golar LNG Limited (NASDAQ: GLNG) hat Pläne angekündigt, 500 Millionen US-Dollar in wandelbaren Senior Notes mit Fälligkeit 2030 über eine Privatplatzierung an qualifizierte institutionelle Käufer anzubieten. Das Unternehmen gewährt den Erstkäufern zudem eine 30-tägige Option zum Erwerb zusätzlicher 75 Millionen US-Dollar in Notes.
Die Notes werden unbesicherte Seniorverbindlichkeiten sein, die halbjährliche Zinsen zahlen und am 15. Dezember 2030 fällig werden. Sie sind wandelbar in Stammaktien, Bargeld oder eine Kombination davon. Die Erlöse werden verwendet, um bis zu 2,5 Millionen Stammaktien zurückzukaufen und für allgemeine Unternehmenszwecke, einschließlich möglicher Investitionen in eine vierte FLNG-Einheit, MKII FLNG-Umwandlungskosten und FLNG Hilli-Umsiedlungskosten.
- Potential expansion with fourth FLNG unit indicates growth strategy
- Share repurchase of up to 2.5 million shares could enhance shareholder value
- Company directors and officers showing confidence through interest in purchasing shares
- Flexible conversion terms allowing company to choose between shares, cash, or combination
- Additional $500 million debt burden could increase financial leverage
- Potential dilution for existing shareholders if notes are converted to shares
- No guarantee the offering will be completed as planned
Insights
Golar LNG's $500M convertible note offering strengthens its financial position for FLNG expansion while managing dilution through share repurchases.
Golar LNG's proposed
The company's plan to use part of the proceeds to repurchase up to 2.5 million common shares is particularly noteworthy as it demonstrates a proactive approach to offset potential dilution from the notes' conversion feature. This share buyback represents approximately
The remaining proceeds are earmarked for strategic growth initiatives, most importantly a potential fourth FLNG (Floating Liquefied Natural Gas) unit, which aligns with Golar's core business strategy of expanding its FLNG fleet. The company is also allocating funds for MKII FLNG conversion costs and FLNG Hilli redeployment, indicating continued investment in its existing infrastructure.
The insider participation signal—with directors and officers expressing interest in purchasing shares and notes—provides a positive sentiment indicator, suggesting management's confidence in the company's prospects and alignment with shareholder interests. This offering enhances Golar's financial flexibility while maintaining a disciplined approach to capital structure, allowing it to pursue growth opportunities in the FLNG sector without immediately diluting existing shareholders.
Hamilton, Bermuda, June 25, 2025 – Golar LNG Limited (the “Company”) (NASDAQ: GLNG) announces today that it intends to offer, subject to market and other conditions,
In connection with the offering of the Notes, certain of the Company’s directors and officers have provided an indication of interest to purchase the Company’s common shares from investors in the offering of the Notes, and certain entities controlled by or affiliated with the Company’s directors have provided an indication of interest to purchase Notes at the initial offering price.
The Notes will be senior, unsecured obligations of the Company, pay interest semiannually in arrears on June 15 and December 15, mature on December 15, 2030, and be convertible into the Company’s common shares, cash, or a combination of shares and cash, at the Company’s election.
The Company intends to use the net proceeds from the sale of the Notes (including any Notes sold pursuant to the initial purchasers’ option to purchase additional Notes, if exercised) to repurchase up to 2.5 million of the Company’s common shares in connection with the offering of the Notes and for general corporate purposes, which may include, among other things, future growth investments including a contemplated fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, repaying indebtedness, and funding working capital and capital expenditures.
IMPORTANT INFORMATION
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum.
The Notes and the shares of common stock issuable upon conversion of the Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws.
This announcement contains information about a pending transaction and there can be no assurance that this transaction will be completed.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “will,” “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “subject to” or the negative of these terms and similar expressions are intended to identify such forward-looking statements and include statements related to the proposed offering of the Notes, the expected terms and conditions, the intended use of proceeds and other non-historical matters.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict and which could cause actual outcomes and results to differ materially from what is expressed or forecasted in such forward-looking statements. Such risks include the risk that the offering of the Notes does not proceed on the terms described herein or at all and risks relating to the actual use of proceeds and other risks described in our most recent annual report on Form 20-F filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.
Hamilton, Bermuda
June 25, 2025Investor Questions: +44 207 063 7900
Karl Fredrik Staubo – CEO
Eduardo Maranhão – CFO
Stuart Buchanan - Head of Investor Relations
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This announcement is not being made in and copies of it may not be distributed or sent into any jurisdiction in which the publication, distribution or release would be unlawful.
FAQ
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